Chinese developer shares dropped the most since the global financial crisis on Tuesday as a rout in the nation’s equity market hit the troubled real-estate sector especially hard.
A Bloomberg Intelligence equity gauge of the nation’s builders sank 9.7%, the sharpest one-day decline since October 2008. Developer bonds also tumbled further, with high-yield dollar notes on pace for a 15th consecutive drop according to a Bloomberg index. On Monday, yields topped 27% for the first time.
